Financial Analyst

Job Description:

As key member of the ITW Heartland Finance Team, the Financial Reporting Analyst will be primarily responsible for financial reporting and forecasting.  This team member will coordinate and collaborate with colleagues across functional areas to complete month-end responsibilities. The Financial Reporting Analyst will be responsible for meeting Corporate financial reporting requirements, ensuring that financial statements and records comply with GAAP and ITW Financial policies, preparing financial forecasts, explaining variances, and supporting long-range planning and budgeting while also leading efforts to simplify and improve the processes through the use of the ITW Toolbox.  The position will be based at our facility in Alexandria, Minnesota.

KEY RESPONSIBILITIES

Accounting Processes

• Ensure accurate and timely reporting of Divisional financial results in compliance with ITW policies and GAAP. 

• Perform month-end, quarter-end, and year-end closing activities, including some journal entry preparation, general ledger account maintenance, generating financial statements, investigating P&L variances versus forecast, and performing balance sheet reviews and reconciliations.

• Prepare and submit all required FRIDA data (monthly, quarterly, annually) and complete analytical analysis.

• Complete all required monthly, quarterly, and annual reporting, including yearend tax kit and annual GEP spend data submissions.

• Manage credit and collection efforts including performance of credit analysis on new customers and credit monitoring on existing customers to minimize receivable credit risk

• Approve expenditures (weekly supplier invoices) and analyze larger project proposals (facilities, equipment repairs, etc.).

• Plan and conduct annual Physical Inventory including preparing instructions, monitoring the process, and participating in review of the results.

• Complete all government surveys including annual report of manufacturers.

• Complete annual Internal Control Questionnaire

• Assist with all internal and external audits.

Forecasting & Analysis

• Ensure accurate and timely reporting of Divisional forecasts to Division Leadership and Corporate.

• Prepare financial outlooks including beginning of month, mid-month, month end flash reports.

• Prepare the Annual Business Plan and assist with the Long-Range Plan.

• Report and review plan vs. actual department expenses monthly and assist in defining underlying causes where material variances are found.

• Develop Capital Requests, Supplemental Requests and all required Post Audits.

• Perform P&L reviews, analysis of results, inventory grading, credit reserve analysis, warranty reserve analysis and tracking, Sales Tax reporting submissions and monthly commentaries.

• Analyze product margins of shipments, work with production managers, engineers, customer service reps for any changes to engineering masters or corrections in work orders.

• Analyze and set labor and burden rates by shop resource

• Review and provide input on customer pricing to achieve target margins.

• Prepare Strategic Sourcing and Toolbox submissions for project savings (on-going)

Business Support

• Build cross-department credibility, confidence, and collaboration with other functional areas.

• Lead simplification projects and process improvements in line with the 80/20 philosophy to continuously analyze processes and identify actions to reduce complexity.

• Complete annual review of approved Suppliers with leadership team (approve additions and removals as needed).

• Participate in the 80/20 data analysis. Provide input on process improvements and simplification based on this analysis.

• Assist with special projects and additional accounting functions as needed.

JOB REQUIREMENTS

• Bachelor's degree in Accounting required, CPA or MBA a plus

• 3-5 years of Accounting experience in a manufacturing environment is strongly preferred

• Public Accounting experience preferred, not required

• Demonstrated ability to interact effectively with peers and management

• Strong organizational and time management skills

• Strong attention to detail and ability to meet deadlines

• Positive attitude and team player mentality

• Demonstrated initiative, flexible self-starter that adapts well to change

• Proficient in Microsoft Excel with the ability to learn new software quickly

• Knowledge of GAAP

Physical Requirements and Working Conditions:

Working conditions involve seated computer work and occasional work walking through the facility.  The roles requires sitting with some standing, bending, walking and light lifting up to 25 pounds.

ITW is an equal opportunity/affirmative action employer.  All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected veteran status, age, or any other characteristic protected by law.

Compensation Information:

The pay rate will depend on the successful candidate's qualifications and prior experience. The range for this position is: $65,000 - $80,000 (annually). Enjoy competitive compensation and generous benefits that includes Health, Dental, Vision, Life and LTD insurance, Paid Parental Leave, 401k (with match), and more. 

ITW is an equal opportunity employer. We value our colleagues' unique perspectives, experiences and ideas and create workplaces where everyone can develop their careers and perform to their full potential. 

As an equal employment opportunity employer, ITW is committed to equal employment opportunity and fair treatment for employees, beginning with the hiring process and continuing through all aspects of the employment relationship. 

All qualified applicants will receive consideration for employment without regard to race, color, sex, gender identity, sexual orientation, religion, national origin, age, disability, protected Veteran status or any other characteristic protected by applicable federal, state, or local laws.

ITW is an equal opportunity employer. We value our colleagues' unique perspectives, experiences and ideas and create workplaces where everyone can develop their careers and perform to their full potential. 

As an equal employment opportunity employer, ITW is committed to equal employment opportunity and fair treatment for employees, beginning with the hiring process and continuing through all aspects of the employment relationship. 

All qualified applicants will receive consideration for employment without regard to race, color, sex, gender identity, sexual orientation, religion, national origin, age, disability, protected Veteran status or any other characteristic protected by applicable federal, state, or local laws.